Platinum Equity Supports Recapitalization of Aventiv Technologies

Whats Happening:

Platinum Equity has reached an agreement with financial stakeholders to recapitalize Aventiv Technologies through an out-of-court debt-for-equity exchange. This move will facilitate Platinum's long-anticipated divestiture of the business as Aventiv transitions to new ownership upon closing of the transaction. The agreement follows a process initiated in March 2024 to evaluate strategic alternatives for Aventiv.

Key Moves:

• Agreement reached for out-of-court debt-for-equity exchange to recapitalize Aventiv Technologies

• Platinum Equity to divest Aventiv upon transaction close

• Process to evaluate strategic alternatives for Aventiv initiated in March 2024

By The Numbers:

• Over $600 million invested in infrastructure and solutions over past five years

• More than 600K tablets deployed to facilities

• $48 billion of assets under management at Platinum Equity

Key Quotes:

• "We are proud of the work we've done and believe Aventiv is a much different business today than when we acquired it, to the benefit of the diverse range of stakeholders the company serves," Platinum Equity said in a statement.

• "We faced challenges head on and never wavered in our commitment to doing the right thing," Platinum said in its statement. "We believe the company is well-positioned today to continue effecting change and leading the industry."

Bottom Line:

Platinum Equity's recapitalization and planned divestiture of Aventiv Technologies marks the culmination of a significant business transformation. Despite challenges including the pandemic, regulatory changes, and capital market disruptions, Platinum has positioned Aventiv for continued industry leadership and impact through improved affordability, accessibility, and innovative technology solutions in the justice sector.

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